20C —August 24 - September 13, 2018 — ICSC PA/NJ/DE Conference & Deal Making — Shopping Centers — M id A tlantic

Real Estate Journal


ICSC PA/NJ/DE C onference & D eal M aking

A Word From The Speakers

The goal of most infrastructure projects is to provide a safe and efficient transportation network that improves the quality of life and promotes economic vitality in the region. In order to achieve this mission, local, state and federal governments rebuild, replace, or improve the transportation infrastructure which often requires the acquisition of the necessary property interests to rebuild and construct road, bridges and railways. Since many shopping centers have direct access to main transportation arteries, many retail owners will be impacted by infrastructure projects, and not always in a positive way. The government’s police power and eminent domain rights are necessary tools for many road and bridge projects. The police power is often used to manage highway access, including installing traffic signals, changing median openings and managing driveway access. When it is necessary to acquire real estate, either for an easement or full ownership of a portion of property (known as a fee simple taking), the government will use its power of eminent domain. The police power can often be used without playing just compensation to the property owner even though the project has a detrimental impact on a retail center. However, if any portion of a retail center is actually taken, just compensation must be paid. It is important to know your specific state law when projects are being handled by local or state governments since many states have unique laws. Retail owners must understand how to protect their investments from overreaching governmental agencies when a new infrastructure project will have a negative impact on their property. We will discuss what owners need to know to protect their property rights.

Timothy P Duggan, Esq. Shareholder Stark & Stark

Through the end of 2017, there were 6,372 craft brewers in the United States according to the Brewers Association, a leading trade organization for craft breweries. This is a 15% increase since 2016 alone. The number of craft breweries in the United States has tripled since 2012. This growth is likely due to changing preferences among consumers, leading to a shift toward higher-quality beer brands and new styles versus the industry’s leading name brands. The growing popularity of craft beer presents an opportunity for owners of warehouses and retail spaces to repurpose their buildings for brewers producing and selling their products. Craft breweries typically operate in industrial space with adequate water, sewer, and power capacity. These brewers are particularly attracted to repurposing antiquated industrial space, as it’s usually more affordable to acquire or lease, has tax incentive potential, and provides character. Breweries also benefit shopping centers and can help boost leasing demand, while also bringing back life to other overlooked real estate. Unique examples of real estate repurposed for breweries is Chicago’s Argus Brewery, which occupies a former stable for the Schlitz Brewing horse teams and carriages and Hampton, GA’s Jailhouse Brewing Company, which is reusing a former 1920s-era jail. For retail and warehouse owners to attract breweries, they should understand the nature of the business and the legal impediments and challenges facing craft brewery owners and startups. We will discuss these issues, which encompasses capital considerations for startups, the needs of brewers from a real estate perspective, zoning and licensing considerations.

Marshall T. Kizner Shareholder Stark & Stark

Julie T. Fox Manager of New Tenant Representation RJ Brunelli & Co LLC

The Pipeline is comprised of female professionals in retail real estate. The group was formed in September 2016 after the Women's SIG at the ICSC PA, NJ,DE Conference. Our vision is to provide opportunities for women to network and support one another. We strive to accomplish this through partnerships, collaboration, and inclusion. We plan monthly events that are fun and educational. We believe in building a pipeline for the next generation of women within the industry. To date, we have over 180+ women in the group that include Landlords, Brokers, Retailers, Attorneys, Construction, Architects, etc. The Pipeline will be meeting at the upcoming Philadelphia Conference & Dealmaking show on Wednesday Sept 5th for the Women's SIG "Skills Swap" Session. During this 45 minutes session, the female attendees will have an opportunity to learn & share about a topic of interest. The topics include: Leasing (Practical leasing/asset management skills i.e reading and understanding a tenant's financial report, return on investment if placing capital in a deal, ways to grow NOI in an asset), Redevelopment, Business Development, Investment Sales, and Time Management/Productivity & Technology (i.e. managing your day for success, utilizing a CRM and virtual assistant). Each topic will be moderated by an expert in the field and each attendee will select two 20 minute sessions.

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